InstaForex - Analytics

InstaForex

719.00 6.50/10
61% of positive reviews
Real

Daily analysis of GBP/USD for June 22, 2015

GBP/USD is still finding strong resistance around the level of 1.5898 in the daily chart, where we expect a higher high pattern formation in order to do rallies towards the next high at the level of 1.6036.

GBPUSDDaily.png

Show full picture

On the H1 chart, GBP/USD is still trading sideways, but the bullish bias remains intact. Also, be aware of the support level of 1.5841, because it's currently bringing strong bottom to the current price action of this pair. The 200 SMA in the current time frame is still bullish and the MACD indicator is turning to negative territory.

GBPUSDH1.png

Show full picture

Daily chart's resistance levels: 1.5898 / 1.6036

Daily chart's support levels: 1.5755 / 1.5543

H1 chart's resistance levels: 1.5884 / 1.5927

H1 chart's support levels: 1.5841 / 1.5789

Trading recommendations for today: Based on the H1 chart, place buy (long) orders only if the GBP/USD pair breaks a bullish candlestick; the resistance level is at 1.5884, take profit is at 1.5927, and stop loss is at 1.5841.



To leave a comment you must be or register

By visiting our website and services, you agree to the conditions of use of cookies. Learn more I agree